5 Questions to Ask Before Starting a Business in UAE
Are you a seasoned entrepreneur trying to expand your business to flourish it to unparalleled levels? Or are you a novice freelancer trying to test new waters? What better place other than the Global Business hub, Dubai, can you imagine flourishing your business?
Starting a business with all your investment needs a prolonged decision-making process backed by expert guidance and mentoring. And, naturally, your head gets puzzled with several questions for which answers don’t seem too straight away!
CIG, got you covered with its expertise over company formation services in Dubai! With years of experience in business setup consulting and guiding several entrepreneurs in UAE in realising their dreams and supporting their business journey, CIG is well aware of the questionnaire that pops up in every entrepreneur brainstorming session!
The most frequently asked questions are:
1.What is the benefit of starting a business in Dubai?
As we know, Middle Eastern countries have a lot of business opportunities to utilise, but nothing beats Dubai. It is because Dubai comes across as one of the most peaceful and tranquil communities in the entire Middle East compared to its counterparts like Iran and Iraq, which are always war-prone areas.
With many financial institutions with favorable policies in Dubai, your business tends to thrive masterly. Roads, ports, communication lines, other amenities are wholesome in the Dubai mainlands offering vast opportunities for a diverse business to catch up.
As we know, UAE consists of seven Emirates: Abu Dhabi, Dubai, Sharjah, Ajman, Ras Al Khaimah, Fujairah, and Umm Al Quwain. And each Emirate has its own share of free zones, which are special trade areas with distinct tax, regulations, and other trade policies tailored to attract foreign direct investment. You may have inhibitions regarding where exactly you should start your business?
2.Where should I start my business in UAE?
Are you about to start your business in a certain zone? You can start either an FZC or FZE. Now how are they different? An FZE can be begun and owned by one individual. In contrast, an FZC needs at least two owners. In addition, free zone entities permit 100 percent foreign ownership, no taxes, and can hire from the local workforce.
But it comes with a downside that we can only trade within the free zone. This could be avoided by having an offshore company with no restriction regarding trading perimeters, provided you have the exact license agreement. This comes as a handy suggestion for all the international business tycoons trying to invest in UAE!
Soon after spotting the right place where you wish to start your business, the next step would be to find the exact regulations you need to follow to run your business smoothly. And what are they?
3. Do I need a local sponsor?
A corporation set up and licensed in Dubai must have a local sponsor to set up a business in Dubai. The Emirati, who is the sponsor, will hold 51% of the shares of a company that belongs to an individual or a group of expats.
Let’s turn over the page for some big good news coming your way in the realm of Business Setup in UAE!
Effective December 1, 2020, the United Arab Emirates (UAE) Government will allow certain foreign investors to fully own local companies without an Emirati sponsor. The rule applies to foreign investors with 51 percent shareholder rights.
After meeting all the regulations, the next big worry would be to assess the financial demands that your business would need to start functioning, and let’s see what it would be.
4. What is the minimum budget that I need to set up my business?
To establish an onshore business in Dubai, a minimum cost of Dh34,340 ($9350)is needed, including the rankings note and myriad fees. Other charges are Dh15,000 for a general trading license, plus fees of Dh10,000 to Dubai Municipality, Dh3,000 to the Ministry of Economy, and Dh1,200 to Dubai Chamber of Commerce. Contact CIG for a low-cost business setup in Dubai!
The most dreadful part of every business owner would be collecting the long document list to make things right. Let’s take a minute to go through the document checklist!
5. What documents are required?
Solely dependent on whether you are starting your UAE company as a sole individual (natural person) or if you want to expand an existing company (legal person), similar to opening a foreign branch. As an individual, it would be a bit easy on you with documents such as copies of your passport, plus your partner’s and utility bills as proof of residence.
In the case of a company or legal person, stay ready to showcase a bundle of documents, including copies of certificate of incorporation, and memorandum, and articles of association of the parent company. Don’t get troubled at the random thoughts; your agent will make it a smooth ride for you with a list of all the documents you need to provide.
Build your business worry-free in Dubai!
Selecting from over 50 Free Zones, various corporate structures, and a plethora of banking options can be overwhelming. Let CIG help you start a new business and life in Dubai to grow as you go.
Dubai is called a global city for a good bunch of reasons, and the most significant one is by being a popular business hub of the Middle East. Dubai acts as a culture medium for the fastest growth of all entrepreneurial dreams and supports all who wish to build their dreams with its favorable policies.
CIG has been functioning in Dubai for years as a credible and renowned business setup consultancy enabling many realise their dreams of setting up their business, no matter, they are not residents of UAE with proper guidelines and guidance.
Dubai is absolutely investor-friendly and when it comes to starting a business in Dubai, it is not very difficult, if you have services of a business setup consultancy like CIG. In addition, if you try to look out for the rest of the world, Dubai is safe, both for residents and investors. This tags Dubai as one of the most favorable places for investment.
Here, we enlist our service palette which we have been catering to every business setup for over years and look forward to extending our services to all entrepreneurs.
Corporate Advisory Licensing Services in Dubai
Company registration can be a tiresome paperwork job wrecking your brain if things are not done well enough. CIG can assure the smooth functioning of your business with an error-free business licensing procedures in Dubai.
A fully-fledged thought process should be dedicated to finding the apt office space, right market, and favorable area and a single wrong move can result in heavy losses. Don’t worry over these, CIG got you covered!
Accounting Services in Dubai
CIG provides value through delivering optimal quality financial services, thereby the clients are on the receiving end of clear strategic and competitive advantages, while at all times maintaining ethics of the highest order.
PRO Services in Dubai
To let your business expand and prosper, it’s wise to join hands with CIG Dubai now to assist you with all the PRO services! We are adept at providing care-free help and assisting in document clearing services.
Dreams should never be left asleep in your brains for long, make them a reality with ardent desire and strong will with professional expertise.
All your entrepreneurial dreams will be given the wings to fly high with the professional and supportive expertise of CIG. With sound market knowledge and legal understanding, CIG can offer you the best assistance in setting up your dream business in Dubai!
- Lifetime investor visa with 100 per cent ownership in Dubai mainland – starting Dh18,499; Auto renewal, pay only once and renew every three years with no additional cost
- Two years license package – starting from Dh29,999; Pay for a year and get a two-year Dubai mainland license with 100 per cent ownership
- Rent a serviced office and get a complimentary license sponsorship; Luxurious office space in prime locations at an economic cost
Studies have shown that many brave minds and innovative thinkers became their own bosses, instead of reporting to their managers, after the global economic downturn of 2008-2009. Today, we see how successful they are, running top organisations, such as WhatsApp, Instagram, Uber, and Slacks.
Currently, there are great opportunities to start and grow your startup that directly responds to market needs. Today, a startup’s future is highly sector-dependent. However, if an entrepreneur is able to provide a product or service to a market that needs it, they will have a strong business basis.
Business set-up in Dubai
Ayub Ahmed Sait, Director and CEO, Capital International Group of Enterprises, says there has never been a better time for company formation in Dubai than now. “The signs are particularly promising right now. That’s a statement that would probably have held true at any time in the past decade or so, but right now, it’s the time to start a company. Thanks to its visionary leaders, the UAE is the fastest-recovering economy in the world and the most stable and diversified one in the long term,” he explains.
Worldwide, investors see the UAE’s ecosystem as a great place to grow their operations. It is well established as a prime destination for multinationals to set up their regional base and serve high growth markets in the Middle East. It is also the perfect location for new business set-ups across diverse sectors. “Starting your own business may seem difficult at the beginning, but with the right support and guidance, you can become a licensed entrepreneur in Dubai. The new normal has given us new opportunities to start fresh. So become a part of this exciting new phase and turn your entrepreneurial aspirations into reality. CIG is here to simplify and help you through every stage of your company formation in Dubai and the UAE,” says Sait.
All about CIG
TCIG Business Services is a subsidiary of Capital International Group of Enterprises LLC, a group of companies diversified into startup advisory, business solutions, business hub with more than 83 luxurious offices (serviced offices, co-working spaces and hot desks), accounting and tax advisory, assistance for corporate bank account opening, marketing solutions, information technology services, corporate government liaison, immigration and visa services, legal solutions, general trading, real estate, investments, second passport, foreign migration services, etc.
For years, CIG has been involved and associated with various committees, business councils, and official boards such as Dubai Economy, Dubai FDI, and Abu Dhabi FDI, further expanding its wide range of business networks in the UAE. With the support of the Dubai Department of Economic Development, CIG has been providing hassle-free services to domestic and international investors and businesses in the emirate.
The company has also tied up with major free zone and offshore entities in the UAE, holding all the valid authorisations to acquire the status of “Registered Agents and Members”. With Dubai today recognised as one of the world’s top ten fintech hubs, CIG offers a dynamic and flexible platform that connects fintech startups with leading financial hubs, such as like DIFC and Abu Dhabi Global Market (ADGM).
CIG has special instalment plans to help clients in these financially trying times. It offers a zero per cent flexible instalment plan with no down payment. This is available in three, six, nine, and 12 months instalments with zero per cent interest with leading banks in the UAE.
CIG supports charitable initiatives and fundraising activities of Dubai-based organisations, such as Dubai Cares and the Mohammad Bin Rashid Al Maktoum Humanitarian and Charity Est. CIG has partnerships and association with clients and agents referring successful business. It has always encouraged referral programmes and offers attractive perks to every introducer. Currently, CIG is offering free Emirates return air ticket for every successful business referrals.
Contact CIG on 800 CIG (244) or email firstname.lastname@example.org. Visit www.cigdubai.ae or www.thecapital.ae.
Here are the three packages offered by CIG
Lifetime investor visa with 100 per cent ownership in Dubai mainland – starting Dh18,499 Auto renewal, pay only once and renew every three years with no additional cost
- Trade license (government charges)
- Corporate service agent fee
- Preparation of legal documents
- Corporate PRO services
- Court fee
- Immigration card
- One investor visa – Lifetime
- Bank account opening
- Company stamp
Time and money are of the essence in entrepreneurship. This is why we don’t want any delays. Flexibility is key when starting a business and by launching this exclusive offer, we hope to help those with ambitions to transform their ideas into successful business ventures.
Two years license package – starting from Dh29,999. Pay for a year and get two years Dubai mainland license with 100 per cent ownership
- Trade license (government charges)
- Corporate service agent fee
- Bank account opening
- Company stamp
By making business setup simple and providing bespoke advice, CIG takes away the trouble in the early stages of company formation. The SME community is the backbone of Dubai’s economy. We are confident that our offer will continue to support entrepreneurship and innovation and in turn, the nation’s wider economic diversification strategy.
There has never been a better time to establish a company in Dubai. Although that would also be true at any time in the past decade or so, right now the signs are particularly promising. So give your business the head start it needs. Set up in the world’s fastest-growing city, Capital International Group’s (CIG) world-class services, networking opportunities, flexible office solutions and never-seen-before offer will help incorporate your new business and grow in the UAE.
“It is safe to say that it has been a tough couple of days for all of us. Even as we as an enterprise try to figure out a way to come out of this unfortunate situation, we continue to remain committed to support the thoughtful leaders of tomorrow, and thus are eager to help our community of entrepreneurs, start-ups and SMEs to navigate a way out of this coronavirus pandemic, together with us,” says Ayub Ahmed Sait, Director and CEO of CIG. “We are hoping that this new offer turns out to be the right platform to incorporate their business in the UAE. Remember, start-ups founded during last recession were the best start-ups of the world, like Uber, Airbnb, Slack, Pinterest, Whatsapp, etc. so don’t relax and wait for things to get normal, be the leader, face the challenges and start the war of your entrepreneurial life.”
Dubai is a large market that offers excellent opportunities for any business to make a fortune. The initial step is to find the right business hub with the right know-how. CIG helps identify the right location with consultants who have years of market experience working with clients across the globe and the expertise to understand the start-ups, and offer advice on how to start and grow continuously. CIG offers corporate sponsorship, which provides the investors with additional benefits, ease and security. We understand that as a newcomer, setting up your business can be daunting with multiple complexities. However, all you need to do is put your faith in CIG so we can help you get the best of what you deserve.
CIG Business Services is a subsidiary of Capital International Group of Enterprises LLC, a group of companies diversified into start-up advisory, business solution, business hub, accounting and tax advisory, assistance for corporate bank account opening, marketing solutions, information technology services, pre and post licence incorporation services, corporate government liaison, immigration and visa services, legal solutions, general trading, real estate, investments, second passport, foreign migration services, etc. Thus, CIG offers multiple solutions to companies based in the UAE and GCC.
Established in 2007, CIG has been in the industry for more than 13 years and has completed more than 20,000 incorporations, helping establish its name and reputation in the market. The company also offers more than 85 luxurious serviced offices in prime locations in Dubai such as Downtown and Al Barsha. CIG has also been providing start-up solutions in the US, the UK and across Asia.
Our experts have maintained friendly relations with networks and legal centres around the UAE through the years, which will be a big advantage for start-ups. CIG’s packages are customer friendly and cost-effective as we keep all types of businesses in mind. Our aim is to make your operations easier and effective by providing guidance at every step of the way, helping unlock a wide range of possibilities for business growth. We are also committed to helping boost your business performance through funding and financing of new start-ups.
For years CIG has been involved and associated with various committees, business councils and official boards such as the Dubai Economy, Dubai FDI, Abu Dhabi FDI, etc., further expanding its wide range of business networks in the UAE. With the support of the Dubai Department of Economic Development, CIG has been providing hassle-free services to domestic and international investors and businesses in the emirate. And thanks to our large expatriate base, our local business networking groups are flourishing. We’ve also tied up with major free zone and offshore entities in the UAE, holding all the valid authorisations to acquire the status of Registered Agents and Members.
With Dubai today recognised as one of the world’s top ten FinTech hubs, CIG offers a dynamic and flexible platform that connects FinTech start-ups with leading financial hubs like Dubai International Financial Centre (DIFC) and Abu Dhabi Global Market (ADGM).
Corporate responsibility — always a part of CIG
CIG has been maintaining its support to charitable initiatives and fundraising activities by connecting with Dubai-based charitable organisations like Dubai Cares and Mohammad Bin Rashid Al Maktoum Humanitarian and Charity Est., as we aim to help provide a decent life for mankind.
Contact CIG on 800 CIG (244) or email email@example.com. You can also visit www.cigdubai.ae or www.thecapital.ae.